HighPeak Energy Business Summary

HighPeak Energy, Inc. (HPK) is an independent oil and natural gas company focused on the acquisition, development, and exploitation of unconventional reserves specifically within the Midland Basin of West Texas. The company generates revenue primarily through the sale of three commodities: crude oil, natural gas, and natural gas liquids (NGLs), with crude oil sales historically accounting for over 90% of total revenue. Operating as a pure-play Midland Basin producer, HighPeak manages a single business segment centered on its high-return drilling inventory and low-cost operational structure, which achieved cash costs as low as $11.69 per Boe in recent fiscal periods. In the competitive landscape, HighPeak contends with larger independent E&P firms such as Diamondback Energy (FANG), Devon Energy (DVN), and Chord Energy (CHRD), as well as mid-cap peers like Vital Energy (VTLE). Relative to these competitors, HighPeak fits as a high-leverage, pure-play operator that prioritizes capital discipline and free cash flow generation over aggressive production growth in volatile pricing environments. Founded in 2019 by industry veteran Jack Hightower, HighPeak Energy is currently led by Michael L. Hollis, who was appointed permanent President and CEO in November 2025 following his tenure as President and COO of Diamondback Energy. The executive team includes Rodney Woodard as Chief Operating Officer, Steven Tholen as Chief Financial Officer, and Alan Huffman as Executive Vice President and Chief Technology Officer. The company’s governance is overseen by Independent Chairman Jason Edgeworth, who also serves as an investment manager for the John Paul DeJoria family office. A significant portion of the company’s equity remains concentrated with the HighPeak Funds, which hold approximately 64.4% of the common stock and are managed by a committee of senior executives to ensure strategic alignment with long-term shareholder interests.